Richards has 26 years’ experience in the asset management industry, including over two decades as an analyst, portfolio manager and CIO. She chairs the UK Financial Conduct Authority’s Practitioner Panel and is a member of the US-based Board of Leaders of 2020 Women on Boards, which works to increase the proportion of women on corporate boards.

Johnson said that the appointment of Richards comes at “an important time” in the company’s near-50 year history.

“I am very confident in Anne’s abilities to lead the company in this exciting period of future development and growth,” she said.

“Our ambitions to broaden and deepen our relationship with our clients; innovate in product development and solutions design; and to continue to develop our investment platform and Workplace Investing businesses have never been greater.

Richards added: “This is an exciting opportunity to lead an international company as it moves into the next stage of its growth plans. Fidelity is an admired global brand with the potential to lead the market as individuals recognise the need to take ever-greater control over their financial security.”